It’s all about corona folks. At least the death rate, by my calculations, is holding only 2.5%. Looks like travel bans everywhere will start. That’s probably good. Supplies will dry up. Shits gonna get shitty for a few months. Get some dry powder, cause when this storm passes we’ll jump back in on the backside. I’d guess the democrats will do everything in their power to get the breakout spreading like wildfire here to effect the 2020 election to try and stop Trump. Watch the sanctuary cities for first signs of the outbreak if it happens.
On to the lie -
Minis off a little more than usual nearing support. Looks like DOW cash support at 28,500 is gonna get blown through. That’s not good as it seems they’re gonna gap the first major support area. Almost like they know what they’re doing. 28,2 to the round number is good support on the DOW. SPX actually looks healthy compared to the DOW technically. Better chart structure. More support areas. First time I’ve said that here since starting the blog. They’ve deviated that bad. Wait and see game right now with the round numbers coming into play. Will this fall be the real deal? Depends on how well the PPT and the Fed can manage a real event. (Did I say ‘event’? Like out of their control? External/exogenous? Like the only thing someone around here has called for since 09’? Could this be the big one?) If they don’t get corona under control, yes. Sadly to get corona under control they may have to shut everything down for a few months. I’d get some extra supplies for the house just in case and before prices spike.
Trump will work this in his/our favor. Big pharmaceutical is gonna get pummeled so we can manufacture here.
More to come below.
Have a good day.
GL and GB!
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